Federal Register / Vol. 63, No. 16 / Monday, January 26, 1998 / Notices 3767

‘‘alternative sites’’ for the proposed

facility will be fully and thoroughly

examined.

Scoping Process: During the

preparation of the DEIS, there will be

numerous other opportunities for public

involvement.

DEIS Preparation: Public notice will

be given concerning the availability of

the DEIS for public review and

comment.

Address: Questions concerning the

proposed action and the DEIS can be

answered by: David J. Dorworth, Chief,

Site Selection & Environmental Review

Branch, Federal Bureau of Prisons, 320

First Street, N.W., Washington, D.C.

20534, Telephone: (202) 514–6470,

Telefacsimile: (202) 616–6024,

ddorworth@BOP.gov.

Dated: January 21, 1998.

Jeff B. Ratliff,

Acting Chief, Site Selection and

Environmental Review Branch.

[FR Doc. 98–1794 Filed 1–23–98; 8:45 am]

BILLING CODE 4410–05–M

DEPARTMENT OF LABOR

Employment and Training

Administration

Revised Schedule of Remuneration for

the UCX Program

Under Section 8521(a)(2) of title 5 of

the United States Code, the Secretary of

Labor is required to issue from time to

time a Schedule of Remuneration

specifying the pay and allowances for

each pay grade of members of the

military services. The schedules are

used to calculate the base period wages

and benefits payable under the program

of Unemployment Compensation for Exservicemembers (UCX Program).

The revised schedule published with

this Notice reflects increases in military

pay and allowances which were

effective in January 1998.

Accordingly, the following new

Schedule of Remuneration, issued

pursuant to 20 CFR 614.12, applies to

‘‘First Claims’’ for UCX which are

effective beginning with the first day of

the first week which begins after April

4, 1998.

Pay grade Monthly

rate

(1) Commissioned Officers:

0–10 .......................................... $11,402

0–9 ............................................ 11,364

0–8 ............................................ 10,462

0–7 ............................................ 9,457

0–6 ............................................ 8,082

0–5 ............................................ 6,773

0–4 ............................................ 5,556

Pay grade Monthly

rate

0–3 ............................................ 4,491

0–2 ............................................ 3,586

0–1 ............................................ 2,713

(2) Commissioned Officers With

Over 4 Years Active Duty As

An Enlisted Member Or Warrant

Officer:

0–3E .......................................... 5,146

0–2E .......................................... 4,282

0–1E .......................................... 3,549

(3) Warrant Officers:

W–5 ........................................... 6,035

W–4 ........................................... 5,154

W–3 ........................................... 4,309

W–2 ........................................... 3,666

W–1 ........................................... 3,176

(4) Enlisted Personnel:

E–9 ............................................ 4,672

E–8 ............................................ 3,958

E–7 ............................................ 3,457

E–6 ............................................ 3,026

E–5 ............................................ 2,588

E–4 ............................................ 2,156

E–3 ............................................ 1,897

E–2 ............................................ 1,791

E–1 ............................................ 1,571

The publication of this new Schedule

of Remuneration does not revoke any

prior schedule or change the period of

time any prior schedule was in effect.

Signed at Washington, DC., on January 15,

1998.

Raymond J. Uhalde,

Acting Assistant Secretary of Labor.

[FR Doc. 98–1787 Filed 1–23–98; 8:45 am]

BILLING CODE 4510–30–M

PENSION AND WELFARE BENEFITS

ADMINISTRATION

[Application No. D–10429]

Notice of Proposed Individual

Exemption to Amend and Replace

Prohibited Transaction Exemption

(PTE) 96–14 Involving Morgan Stanley

& Co. Incorporated (MS&Co) and

Morgan Stanley Trust Company

(MSTC), Located in New York, NY

AGENCY: Pension and Welfare Benefits

Administration, U.S. Department of

Labor.

ACTION: Notice of proposed individual

exemption to modify and replace PTE

96–14.

SUMMARY: This document contains a

notice of pendency before the

Department of Labor (the Department) of

a proposed individual exemption

which, if granted, would amend and

replace PTE 96–14 (61 FR 10032, March

12, 1996). PTE 96–14, as clarified by a

Notice of Technical Correction dated

June 4, 1996 (61 FR 28243), permits the

lending of securities to MS&Co and to

any other U.S. registered broker-dealers

affiliated with MSTC (the Affiliated

Broker-Dealers; collectively, the MS

Broker-Dealers) by employee benefit

plans with respect to which the MS

Broker-Dealer who is borrowing such

securities is a party in interest or for

which MSTC acts as directed trustee or

custodian and securities lending agent.

In addition, PTE 96–14 permits MSTC

to receive compensation in connection

with securities lending transactions.

These transactions are described in a

notice of pendency that was published

in the Federal Register on August 11,

1995 at 60 FR 41118. PTE 96–14 is

effective as of March 12, 1996.

If granted, the proposed exemption

would replace PTE 96–14 but would

incorporate by reference the facts,

representations and virtually all of the

conditions that are contained in the

notice, the final exemption and the

technical correction. However,

Condition (9) of PTE 96–14, which has

been redesignated herein as Condition

(12), would be amended. Condition (9)

of PTE 96–14 provides that—

Only plans whose total assets have a market

value of at least $50 million will be permitted

to lend securities to the MS Broker-Dealers.

In the case of 2 or more plans maintained by

a single employer or controlled group of

employers, the $50 million requirement may

be met by aggregating the assets of such plans

if the assets are commingled for investment

purposes in a single master trust;

The applicants have requested that

this condition be modified to allow two

or more plans which are maintained by

the same employer, controlled group of

corporations or employee organization

(the Related Plans) as well as two or

more plans which are not maintained by

the same employer, controlled group of

corporations or employee organization

(the Unrelated Plans), whose assets are

invested in a single, commingled

investment vehicle that is managed by

a fiduciary which is independent of the

MS Broker-Dealers, to aggregate their

assets within the pooled investment

vehicle in order to satisfy the $50

million investment threshold for

lending securities to MS Broker-Dealers.

However, the fiduciary exercising

investment discretion over the pooled

vehicle, particularly if the fiduciary is

an outside manager, must possess some

minimum level of investor

sophistication by satisfying an ‘‘outside

business’’ test.

In addition, the Department has

decided to revise certain of the

conditions contained in PTE 96–14. In

this regard, the Department has added

several new conditions to the pendency

notice relating to such matters as

disclosures, compensation, outside